Merrill Lynch is to create 33 fund administration jobs at its Irish wealth management business. The US investment bank is adding to the 40 new positions it created with the opening of its Dublin research, development and innovation centre in July, according to a report in the Irish Times. The jobs in wealth management are being created as a result of job cuts in Jacksonville, Florida. The bank, which has been in Ireland since 1995, has hired an outsourcing firm to explore whether jobs in settlements, cash management and data integrity can be outsourced from Ireland to India. The company wants to create higher value jobs in Ireland. It said the aim was to reduce the number of "transactional" roles in Dublin, replacing them with more "complex knowledge-processing" roles.